SWEDEN – SEB Asset Management has named Cecilia Lager as head of its mutual fund arm, SEB Fonder, replacing Jan Palmberg who is moving to another role within SEB.

She joined SEB Asset Management in 2000 and is currently the chief operating officer for the mutual fund division. She takes up her new post on January 1.

SEB Asset Management, part of Skandinaviska Enskilda Banken, has 18.1 billion euros in European pension fund assets under management. SEB did not say how large its mutual fund operation is.

Harry Klagsbrun, head of SEB Asset Management, said: “We are pleased to have Cecilia in this position. The mutual funds business represents a considerable part of SEB Asset Management. Cecilia has broad experience in asset management as well as mutual fund business.”

Lager said: “Both 2001 and 2002 have been tough years for stock markets worldwide and for our unit trust investors. During this period, we have focused on making our operations more effective and increasing the return on investment for our customers. As a result, we are stronger
today than two years ago.”